The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-12-11

| demands are increasing, and mean
while calls from the country do not
abate; in Detroit business is somewhat
quiet, and the grain trade requiring less
| than usual, but, though money is
easier, the rates are to per cent at
| Cincinnati banks have no money for
| outsiders, and the market is close at
| to z; at Cleveland deposits improve, but
money IS still close; at Philadelphia
collections are somewhat slow, heavy
blocks of paper await sales. and consid-
cradle New York paper is being offered ;
at Boston western paper IS offered at z
| per cent, some of it endorsed by banks,
while the home dema is large.
This pressure at many points. with
great abundance of funds in specula-
| tive uses, conforms to estimates pub
lished months ago of the Treasury s
J policy. Thou b $4,000 900 have been
| deposited with banks in four months,
and the Treasury has increased its cash
only Sc 10000, supplies have been
! largely absorbed in speculation. With
S34 900 900 gold received from Europe,
New York banks have lost but So 500
| 100, but the western outgo continues.
Grave uncertainties in France and Ger
many render dependence on further
past week, the Treasury has taken in
81 COO, 900 more than it paid out. The
growing discussion of modes TO lessen
the surplus points TO no assured end as
yet, but cause apprehension IN some
I c-anuiacturPs.
The dry goods trade is moderate, as
usual for the season, without improve
| ment in Woolens; considerable sales of
! cassimeres at prices only little below
last year are reported, and in oVercoat-
ing prices are considered low; but re-
cent advances in cottons are sustained
in sales. The boot and shoe trade is in
good shape, buyers crowding at Boston,
| but leather is dull, and hides depressed.
In groceries there is large volume of
! business, but speculation in coffee has
driven out buyers, so that quotations
are entirely nominal, and the Sugar
Trust has advanced the price of re-
fined. A powerful syndicate has cor
nered tin and copper, with great ex-
element, and is also operating in lead.
Attempts to revive the coke syndicate
have failed, and companies have con-
Guided to attempt no further advance
in coal for December, the demand fall
ing off, with countermanding of some
orders.
11Ou SILL u0SILdIcSI LuUuSu DeSt
grades are scarce. southern makers are
bidding for New York and New Eng
land trade, and prices at Pittsburg tend
lower for all grades except charcoal.
In bar iron there is perceptible shrink
age of demand, nails are dull and lower,
and steel rail buyers hold off. The halt.
ing III the market for securities con-
tinues, partly because Of foreign sales.
partly the result of rate disputes, and
partly because the Erie and other late
returns show nearly as large an increase
in expenses as in earnings. Reported
difficulties in the Baltimore & Ohio
settlement attract notice. The wheat
market has risen 2 cents and corn as
much, with great excitement. Oil and
cotton have been stronger, and loom
in pork products lifted prices, but has
met reaction. In all directions speca-
latIon is marked by that excited activity
which renders legitimate dealers eau
tious.
The business failures occurring
throughout the country during the
last seven days. as reported to r. G:
Dun & Co., The Mercantile Agency,
on Friday, by telegraph, number iUr
the United States Ole, and for Canada
20, or total of pa, as compared with
POI last week, and 224 the week previous
to the last, and 242 the CORE spending
week of last year, made up of 210 in the
United States, and 80 in Canada, or
figures nearly identical with those of
this week